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Feb 7, 2013 4:00pm EST
council of economic advisers under president clinton. she says the sequester is absolutely not necessary and must be avoided. bob mcteer is a distinguished fellow at the national center of policy analysis, former president of the dallas federal reserve and a cnbc contributor and says if they can't make a good deal willing to risk the side effects of the sequester. good to see you. thank you very much for joining us. >> thank you. >> lawyer, if the sequester kicks in, how much damage does it do to the economy? >> two recent estimates from the bipartisan policy group, 1 million to 1.2 million to 3 million jobs. last year the economy created 2.2 million jobs. this year we take out 1 million to 1.2. we take off a percentage point of gdp, but the real question is it's absolutely not necessary. it's bad policy and it's not necessary. >> bob, what do you say about that? you're willing to let the sequester happen, right? >> if necessary. i do think it's a bad idea but if it's packaged up with much more tax increases and we can't get a better deal, then this is better than nothing and maybe it ca
Search Results 0 to 0 of about 1